Another long-short fund to sprout

Janus Capital made headlines when it announced it will launch a new mutual fund product with long-short capability. Now, an ever bigger firm is jumping in. Giant American Century says it will launch the American Century Long-Short Equity Fund. The appeal stems in large part from the growth of hedge funds, and it makes sense to be able to short as well as long stocks. But the management issues may be tricky. I would expect more funds to find sub-advisors for the short portion of their funds in the future.

> Here's an article in TheStreet.com.